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Estee Lauder, Meredith Corp., DraftKings and others



Check out some of the biggest movers in the pre-market:

Estee Lauder (EL) – The cosmetics maker reported quarterly earnings of $ 1.62 per share, 30 cents per share above forecasts. However, revenue is slightly below forecasts, as sales of higher-end Estee Lauder products are influenced by people who continue to work from home. Shares of Estee Lauder lost 3.5% in pre-trading.

Meredith Corp. (MDP) – Meredith rose 11.5% in pre-sales action after a report by Bloomberg that it was in advanced negotiations to sell its 1

7 local television stations to Gray Television (GTN) for about $ 2.5 billion. Acquaintances say the deal could be announced this week.

DraftKings (DKNG) – The sports betting company has been modernized to “surpass” Cowen’s “market performance”, pointing to a “stable” road to legalization for the industry and optimistic prospects for both growth and market share . Shares rose 1.5% in pre-trading.

Verizon (VZ) – Verizon is close to a deal to sell media assets such as AOL and Yahoo to Apollo Global Management (APO), according to numerous reports. The transaction is estimated to be worth $ 5 billion and can be announced today.

Berkshire Hathaway (BRK.B) – Berkshire shares added 1% in the pre-market and are expected to reach a record high in today’s trading after their annual meeting over the weekend. CEO Warren Buffett said Berkshire’s profits were recovering from the effects of the pandemic, and the company was also increasing its share buyback by an additional $ 6.6 billion.

Moderna (MRNA) – The stock of the drug manufacturer jumped 2.9% in pre-sale action after concluding a deal to provide 500 million doses of Covid-19 vaccines to low- and middle-income countries through a program supported by the UN.

Canadian Pacific Railway (CP) – Canadian Pacific Rail has objected to a decision exempting the competing Canadian National Railway Network (CNI) from stricter merger rules based on its smaller size. The objection stems from Canadian National’s attempt to surpass Canada’s Pacific Ocean in its bid to buy US rail operator Kansas City Southern (KSU).

Dell (DELL) – Dell has announced the sale of its cloud business to Boomi to private equity firms TPG and Francisco Partners for $ 4 billion, including debt.

Align Technology (ALGN) – The company behind Invisalign braces has announced a $ 100 million share buyback agreement with Goldman Sachs. The deal will complete the $ 600 million repurchase program announced by Align in May 2018.

Li Auto (LI), Nio (NIO), XPeng (XPEV) – Chinese electric vehicle manufacturers announced their delivery figures in April, with Li Auto shipments up 111% from a year ago, Nio increased by 125% and XPeng increased by 285%. Li Auto rose 2.3% in the preliminary market, while XPeng gained 1.2%.

Novartis (NVS) – Sandoz’s division of the Swiss drugmaker has begun late-registration of a biosimilar version of Regeneron’s (REGN) Eylea for the treatment of age-related macular degeneration. Novartis won 1% in the preliminary market.

Tilray (TLRY) – Canadian-based cannabis producer sees its shares rise 1% in market trading after announcing it has completed its merger with rival Aphria


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